In Brief XRP whales expanded their presence by adding 32 million-token wallets despite a 29% decline in market capitalization over three months. RLUSD has strengthened XRPL’s institutional ut
XRP whales have expanded their presence despite the cryptocurrency losing 29% of its market capitalization over three months. According to Santiment Intelligence, XRP Ledger added 32 wallets holding at least one million XRP during the measured period. The million-XRP wallet cohort reached roughly 2,018 addresses, while XRP’s weaker performance created a notable divergence between valuation and large-holder activity.
Santiment views this pattern as evidence that larger holders are accumulating XRP while other investors reduce their exposure. Moreover, rising million-XRP wallets during declining valuations can suggest stronger conviction among investors controlling substantial token balances.
However, the additional wallets do not necessarily represent 32 separate investors purchasing at least one million XRP each. One investor can control several addresses, while exchanges and custodians can redistribute their XRP holdings across multiple wallets. Existing addresses can also enter the million-XRP category by adding smaller amounts when balances already approach that threshold.
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Santiment also highlighted Ripple USD while assessing broader developments surrounding large-holder activity across the XRP Ledger ecosystem. Despite XRP’s weaker price performance, RLUSD has developed into a significant component of Ripple’s institutional digital asset infrastructure.
Ripple reported approximately $1.595 billion in circulating RLUSD against roughly $1.704 billion in reserves as of July 23. Additionally, Ripple has positioned RLUSD for payments, tokenization, collateral management and other applications involving blockchain-based financial settlement.
Live Chart: https://t.co/tredscK9Ez
XRP Ledger’s 1M+ wallet cohort has added 32 wallets in 3 months. That’s large-holder growth during a -29% market cap decline.
Despite underwhelming price performance throughout the summer for $XRP, $RLUSD has grown into a meaningful… pic.twitter.com/Gqx5WZ0tuL
— Santiment Intelligence (@SantimentData) August 11, 2026
RLUSD operates across XRP Ledger and Ethereum, providing another source of network activity beyond XRP market speculation. Ripple’s payments, custody and tokenization infrastructure also connects XRPL with institutions exploring blockchain-based settlement and digital asset services.
Consequently, Santiment considers whale accumulation notable because large-wallet growth has persisted alongside considerable pressure on XRP’s market valuation. Still, wallet counts alone cannot determine exactly how much XRP individual whales accumulated during the three months.
Total whale balances, exchange reserves and large transfers could provide stronger confirmation of sustained accumulation among major XRP holders. XRP’s 29% market-cap decline has coincided with 32 additional million-XRP wallets, highlighting contrasting trends in valuation and large-holder activity. Santiment’s data supports an accumulation pattern, although broader on-chain indicators remain necessary for measuring the strength of whale positioning.
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The post XRP Whales Keep Accumulating as Market Cap Falls 29% Over Three Months, Data Shows appeared first on 36Crypto.
